BMC’s P300m bailout gets Parly nod

Olive branch: The new capital injection to improve BMC's cashflow problems
Olive branch: The new capital injection to improve BMC's cashflow problems

Parliament on Monday approved the request for a capital injection of P300 million to relieve the cash strapped Botswana Meat Commission (BMC) from its financial woes.

The request that was tabled by the Minister of Finance and Development Planning, Kenneth Matambo was approved with the majority of legislators supporting it. When presenting the request, the minister noted that the funds are required to finance the commission’s operational losses for the current financial year, which has put pressure on the commission’s cash flow.

“Funding for the requested amount will come from the reduction of annual provisions for the Horticulture and Water Development and Agricultural Support Scheme programmes,” he said.

Editor's Comment
Happy Independence!

We are 56 years old and what do we have to show for it? Looking at where Botswana started and where it is today, there are a lot of developments, but whether the developments match the number of years we have enjoyed as a country is a topic for another day.The fact that cannot be denied is we have seen major developments, but we are still lacking in several pertinent areas.Our beautiful country imports almost everything. We import fuel, food,...

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